DUBLIN--(BUSINESS WIRE)--The "Laboratory Informatics Market - A Global Market and Regional Analysis: Focus on Type, Offering, Component, Deployment, End User, and Region Analysis - Analysis and Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.
The global laboratory informatics market was valued at $4,341.2 million in 2021 and is anticipated to reach $12,677.0 million by 2032, witnessing a CAGR of 10.27% during the forecast period 2022-2032.
The growth in the global laboratory informatics market is expected to be driven by the increased efficiency of laboratories due to their usage and better data management. Additionally, it saves time and money.
Laboratory informatics plays an essential role in laboratories fulfilling quality standards, eliminating transcribing mistakes, shortening the time it takes from specimen receipt to results reporting, and improving patient outcomes. Over the last decade, technical developments in laboratory equipment have resulted in increasing specimen numbers, as well as a growing need for and dependence on laboratory data to support clinical and public health demands.
These advancements indicated that paper-based record keeping and results reporting were impractical and could not serve the laboratory's commercial demands. As a result, there has been a significant increase in the need for laboratory informatics adoption at all levels. This expanded usage of laboratory informatics has enabled end customers to describe particular system requirements, prompting suppliers to design more appealing and practical products and feasible laboratory informatics choices.
Recent Developments in the Global Laboratory Informatics Market
- In February 2022, Agilent Technologies, Inc. acquired advanced artificial intelligence (AI) technology developed by Virtual Control. With this acquisition, the company incorporated ACIES software into the industry's premier gas chromatography and mass spectrometry (GS/MS) platform, which boosted productivity, efficiency, and throughput in laboratories worldwide.
- In October 2021, PerkinElmer, Inc. introduced Signals Research Suite, a complete cloud-based solution hosted on Amazon Web Services. The suite is a secure informatics platform that provides pharmaceutical and industrial companies with comprehensive, end-to-end scientific data and workflow management.
- In July 2021, Abbott's STARLIMS Corporation upgraded to Technology Platform v12.2. Functionality and upgrades have been improved, and all of the features from prior versions of ELN are available in HTML5: Standard Operating Procedures (SOP) document viewer. The new HTML5 design enhanced start-up efficiency, integration, and usability.
- In August 2020, Thermo Fisher Scientific expanded SampleManager LIMS software deployment model choices which enabled laboratories with end-to-end support for software deployment in the Amazon Web Services (AWS) cloud. The customers of LIMS software can use the system's enhanced functionality and integration capabilities without investing considerable resources in the setup and continuing administration of a cloud environment.
Market Dynamics
Drivers
- Reduced Human Error and Increased Efficiency
- Time Savings and Increased Revenue
- Increasing Implementation of Laboratory Informatics in All Industries
Challenges
- Slow Speed of Implementation
- Trained Professionals Needed
- Data Migration Highly Error-Prone and Time Consuming
Opportunities
- Usage of AI and ML
- Decreasing Cost Due to Increasing Use of Cloud-Based Systems
- Platforms Instead of Standalone Software
Companies Mentioned
- Agilent Technologies, Inc.
- Abbott. (STARLIMS Corporation.)
- Accelerated Technology Laboratories, Inc.
- BD.
- Bio-Rad Laboratories, Inc.
- Benchling.
- CSols Inc.
- Dassault Systemes (Biovia)
- Danaher. (IDBS)
- Illumina, Inc.
- LabVantage Solutions Inc.
- LabWare
- LabLynx, Inc.
- Merck KGaA
- MGI Tech Co., Ltd.
- PerkinElmer, Inc.
- Thermo Fisher Scientific Inc.
- Waters
Market Segmentation
Segmentation 1: by Type
- Laboratory Information Management Systems (LIMS)
- Electronic Lab Notebooks (ELN)
- Chromatography Data Systems (CDS)
- Electronic Data Capture (EDC)
- Clinical Data Management Systems (CDMS)
- Laboratory Execution Systems (LES)
- Enterprise Content Management (ECM)
- Scientific Data Management Systems (SDMS)
- Quality Management Systems (QMS)
Segmentation 2: by Offering
- Platform
- Standalone
- Add-On
Segmentation 3: by Component
- Software
- Consulting Service
Segmentation 4: by Deployment
- On-Premises
- Cloud-Based
- Remotely Hosted
Segmentation 5: by End User
- Pharma and Biotechnology
- Biobanks and Biorepositories
- Molecular Diagnostics and Clinical Research Labs
- Contract Research Organizations (CROs)
- Academia
- Food and Beverage
- Chemical Industry
- Petrochemical Refinery and Oil and Gas Industry
Segmentation 6: by Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Rest-of-the-World
For more information about this report visit https://www.researchandmarkets.com/r/nn7nu3
